How Our Services Work?
How Do Contractors Get Insurance?
Commercial insurance for contractors is a must in order to safeguard the future and longevity of contractor businesses. To some, contractors insurance refers to commercial general liability insurance that is specialized for contractors. Though this type of insurance is essential and may even be required for some industries, there is a wide array of options for customizing contractors insurance further.
Additional coverage in contractors insurance picks up where general liability insurance ends. The scope of general liability insurance includes third-party injury, third-party property damage, and advertising/reputational damages inflicted to a third party. Anything more than this, for example, commercial property coverage, commercial auto coverage, and worker’s compensation would require additional coverage.
There are essentially two ways to secure contractors insurance:
- Go to the insurance companies directly; or
- Go to a trusted insurance brokerage like Contractors Insurance.
Directly Going to an Insurance Company
Though not all insurance companies are the same, they share one similarity: they only have their set of insurance products to bring to you. This means that if you want more extensive options to choose from, you will need to do the research and individual correspondence by yourself.
The biggest risk with this is that such options aren’t vetted by third-party experts, therefore, you will need to rely on what the insurance company promises and/or customer testimonials.
Experience with disaster mitigation work and knowledge on how to smoothly handle an insurance claim may also be expected of you by certain insurance companies.
Choosing a Commercial Insurance Brokerage
Many businesses opt for trusted commercial insurance brokerage firms like Contractors Insurance. This is because we work with a network of insurance companies that have been vetted by our own insurance experts.
We will do all the work so that you can get the best possible options that provide the most coverage at competitive rates.
Furthermore, if you are completely new to securing contractors insurance, we can empower you with the knowledge you need in order to make informed decisions regarding your business/professional insurance needs.
We’ve refined our methodology so that we can efficiently and effectively serve our clients – an approach that has allowed us to receive awards and industry recognition.
Our Simple 3-Step Process
Fill Out Our Form
Begin your journey towards a more secure future for your business by filling out the short form on our website. This form will ask for a few details such as your:
- Name, email address, phone number, and industry.
- On the “notes” field of the form, you may choose to specify any:.
- Questions and concerns;
- Preferred times to be contacted; and
- Your current insurance goals, the size of your business, etc.
We’ll Be in Touch
Shortly after submitting this form, one of our experts will be in touch with you. This is also when you will receive a quick quote which serves to give you a rough idea of how much your insurance policy will cost.
Customize Your Insurance Policy
Every business has a unique set of risks that they are exposed to. Our experts will guide you through customizing your insurance policy so that you get the coverage you need for the best price.
What Makes Us The #1 Choice?
We are independent
Unlike many of our competitors, we are not tied to any insurers, therefore, we will be able to give you a broad range of options when it comes to insurance plans and bundles.
We’re invested in your success
We treat our clients like partners. We offer a high-calibre service so that you are supported at every stage.
We have your back
Long after your insurance plan is set up, we’re still only a call away. We will still be involved to protect your interests if you need to make a claim.
We’ll make sure you’re covered
We take the time to understand your business with thorough risk analysis, thereby helping you identify and manage all the risks that you are exposed to.
We’ve got what you need
Whatever insurance needs or goals you have, we have a broad range of product offerings to match those needs and goals as closely as possible.
We’re your biggest fans
We will promote your business through our social media channels as well as to our client base.
Commonly Asked Questions
The cost of contractor insurance depends on a number of factors such as: your industry, the size of your business, how long you’ve been in business, and any past insurance claims you’ve made prior to application.
Your business’s own unique needs will also influence the cost of your contractor insurance since additional coverages may be needed or recommended. On average, the cost of contractor insurance is $55 to $90 per month
For independent contractors, commercial general liability insurance by itself will cost around $35 per month. This can, however, be bundled with commercial property insurance under a Business Owner’s Policy (BOP) for a slightly increased price.
When a contractor is not insured, there are numerous risks that can end up costing the contractor thousands to hundreds of thousands of dollars. These risks include:
- Third-party injuries and property damage before or after project completion
- Advertising or reputational damages (e.g. slander, libel, copyright infringement)
- Bodily injury to the worker himself or to a fellow worker
- Road accidents while using commercial vehicles
- And more.
Even though contractors from different industries face varying risks, virtually all of them need commercial general liability insurance.
Additional coverages can be bundled for cost-efficiency. Mainly, the types of insurance that a contractor must carry depends on their unique needs and preferences. These can be clearly identified and defined with the guidance of an experienced insurance expert.
A quick quote from us will take no time at all. However, depending on your case, your final insurance plan will take a few weeks at most – this is due to the process of customizing it along with the needed approvals.
Your account will be managed by one of the expert insurance brokers on our team. You can give us a call any time you have questions. We will also provide hands-on assistance if you need to make a claim.
Get the Coverage You Need From the Best in the Industry
As an award-winning commercial insurance brokerage, Contractors Insurance specializes in providing customized insurance plans for various contractors, tradespeople, and professionals.
Our dedicated team of insurance experts work towards understanding the insurance needs and risks of your business while also keeping up-to-date on various sectors such as engineering, construction, renovation, landscaping, plumbing, roofing, and more.